Subordination Agreement 1988-296334
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"'SR JUN 2 I
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RECORDING REQU:::STEDB,Y:
TI'.E CITY 0 F PO'"'A Y ,
I' VF.ni~ L. LY'LC I,
Cnwt'l y itEC0HOf:H
____ ---1
WREN RECORDED l'~IL TO:
THE CITY OF POWAY
P.O. BOX-"
Po\;AY, CALIFOR.'iIA
92064
NO FEE
THIS SPACE .FOR'Y.ECORDERS US:::
SUBORDI~ATION,AGRE~.E~T
FOR VAEDE F.ECEI\'ED, theundersicgned, asBe~;eficiary uc,c:er a Deed of Tr:->st dated
19 December' 1935 , recorded' iIithe,Officeof the 'Coii:otyRecorcer"of S-"n Diego
County 27 December 1985,File, ~o. 85-433373 , and as o....,,'o'r' and hoTcer o'fthe
obi~.igations ther~by sec-y,re9. "q~:~'s' hereby i::ake s'J:,j:ecto,'~:)d st:.~o:-c":::.rJ.a:te' t'he Ii:er.s the::ec=
t'o 'the Easer:ent granted by CFPOWAY. L TD.. a Cal ifor'il"ia 1 im.ite'd oaftne'fsniD
,to. TEE: CITY ,OF ?OrJAY, i.to being; .ti'::tder-s'tood' a:id ?g::~ed ita:,; ~or,eclos\.:.re:' o~ s'.=i.ci' .D'e-ed cr.
,Trust shall not .=ffect, defeat. ,or r.encer ~v.al:.d af:.Y' righfsunc'er 'ane.' DS' ~~,:i:-r.tce: of
s?-~d easecent, and sa,.;d' easerce:1t sh2'11 be paramo:.!!":t "E~d st.:?eric:: to rJ'le :-ig;;ts of
a,ny .pu::,cr.aser u:1e:er a forec-!o,sure of said Deed of Tr~st.
I ~Zl-<i' 0
Siid ease~e~t ~as reco:-ced ~ 0
the real property cescribed in :sa~d Deed
, ,File
of Trust.
No.<6g-z9&332....
, 'and' aff.ec:s .
The ,undersig~ed 3e::efi'cia.:".y or .s"aid Deed of Trt:.st cecl'ar-'es and ack!lc;:lecges" that it:
hereby inte!1tior,ally .....aives., re'linquishes, and subordi::.a'tes ,the priorities and
superiorities of the lien and charge of ,said Deed of :Tn.:~t upo:'! the land cescribed
therein i:l-favor. or said eas'ei;ent, 'a:i"d that it t:mde(~t.a-:1~'S that in reliance upon a:1d
in.,c'cnsi"ceratic:1 of ,thi,s ....a"i.\-~e.r,rel::.nquish=le:1t, an'a ,subp-:-cir.ation s?ecific opnet2ry
.a:lA,o't1ier'o1:iligations will 15.e.entered ioto15yThiI:d,:8ar:ti'es which,';'ou1'dnot' .15e cice
'-or~ e\.ftered',':into bu't 'for.. ,said 're'll:'ance and', the .e>;ect,;C'ion by. 'Benefi'ci'ar-y of (this \.;aiyer",
re'<]:ir.quishr::en't, 'and suborcfi:1a:t.ion.
Dated:
'BENEnClA.":': CANAD J AN COMME RCI AL BANK
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R/" No.'
Exc. No.
Project:
By:
.~ .&--~d L2M-
By:
NOTE: ALL SIG~ATURES MUST BE AC~~Ori~EDGED
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NOTARIES: Use proper form attached
or .taple appr6~riate
for::> thereto.
}later Easement (Rarcel 2) of P. U. E, and Water Esmt. Plat
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SUBORDINATION AGREEMENT
C. F. Poway, LTD
June 2, 1988
CANADIAN COMMERCIAL BANK
By PW Liquidators, Inc., as agent and
attorney in fact for Canadian Commercial
Bank and for. Price Waterhouse Limited.
as liquidator of the estate and effects
of Canadian Commercial Bank
By:_e4~~,---
R. G. Heasman
Its: President
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The undersigned hereby consent to and approve the terms of this document.
Price Waterhouse Limited, as liquidator
of the estate and effects of Canadian
Comrnercia~ank
By: P(:<-~?-=0. c-o
R. G. Heasman ~
Its: President
Bank of Canada
By PW Liquidators, Inc., as agent and
attorney in fact
By:
Its:
~ 44--.;
President
.,
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PW Liquidators, Inc.
By:
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R. G. Heasman
Its: President
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STATE OF CALIFORNIA)
) ss.
COUNTY OF ORANGE )
On this 2nd day of June, in the year 1988, before me, Belinda Kay Fray the
undersigned Notary Public, in ,and for said State, personally appeared R, G. Heasman,
personally known to me (otlr !lys']ea >n me \11'1 tile baui:> ef s8tiof~dnr,' e"ideOCFl to be
the President of PW Liquidators, Inc., a corporation, the corporation subscrib.edto'
the within instrument as the agent and attorney in fact of Canadian Commercial Bank
and acknowledged to me that' he subscribes the name of PW Liquidators, Inc. thereto 'as
principal and PW Liquidators, Inc, as agent and attorney in fact.
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Nbtary's Signature
OFFICIAL SEA.L
B'ELlNDA KAy'FRAY
rWTARY PUGLiC .;. CALIFORNIA
ORANGE COUNTY
My comm. expires Nay '12, 1991
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STATE OF CALIFORNIA)
) ss.
COUNTY OF ORANGE )
On this 2nd day of June, in the year 1988, bef.ore me, Belinda Kay Fray the
undersigned Notary Public, in and for said State, personally appeared R. G. Heasman,
personally known to me (8, ~.fiv~d tfi me fiR tile baEiE_f'-.&a.t-i'Sfll~i nellC.w- to be
the President of PW Liquidators, Inc., a corporation, the corporation subscribed to
the within instrument as theagertt 'and attorney in fact of Price Waterhouse Limited
and acknowledged to me that he subscribes the name dfPW Liquidators, Inc. thereto as
principal and PW Liquidators, Inc. as agent and attorney' in fact,
b~t&
Ndtary's Signatur~~
OFFICIAL.SEAL
BELI~IDA KAY FRAY
fJOTf,RY PU"G'LiC - CALlFOf?NIA
ORANGE COUNTY
My comnl~ ~xpires 'IWV 12, 1991
~..;;.-----
STATE OF CALIFORNIA)
) ss.
COUNTY, OF ORANGE )
On this 2nd day of June;, in the year' 1988, before me, Belinda Kay Fray the
undersigned Notary Public. in and ,for said State. personally appeared R. G. Heasman,
personally known to me (81 p~u\l.c:d: Lv 'He 9~ t!i~ 1;.Q.~~~ vi .3at~-ory-e-v4dene.e+ to be
the President of PW Liquidators, Inc., a, corporation. the corporation subscribed to
the within instrument as the agent and attorney in fact of Bank of Canada and
acknowledged to me that he subscribes the name of PW Liquidators, Inc, thereto as
principal and PW Liquidators. Inc. as agent and attorney in fact.
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OFFICIAL SEAL
BELINDA KAY FRAY
NOTARY PUBliC - CALIFORNIA
ORANGE COUNTY
My ccmm. ex~ires..rNV I?, 1991
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STATE OF CALIFORNIA)
) ss.
COUNTY OF ORANGE )
On this 2nd day of June, in the year 1988. before me. Belinda Kay Fray the
undersigned Notary Public, in and for ,said State, personally appeared R. G. Heasman.
personally known to me ,~nr l?Hl.~d to me as tHe bod" of' s~Hs~ry-ev:i:del'lee+-to be
the President of PW Liquidators, Inc., a corporation, the corporation subscribed to
the within instrument as the agent and attorney in fact of PW Liquidators. Inc. and
acknowledged to me that he subscribes the name of PW Liquidators. Inc. thereto as
principal and PW Liquidators, Inc. as agent and attorney in fact.
I A
Signatu~
OFFICJ..\L SEAL
BELINDA KAY FRAY
[1l0TP,R'{ PUOLlC::'.CAUFORNIA
ORANGE COUNTY
My camm.' expires NOV 12, 1991
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